MIRA INFORM REPORT

Report Date :

22.04.2011

IDENTIFICATION DETAILS

Name :	AUTOMAT INDUSTRIES PRIVATE LIMITED
Registered Office :	Plot No.: 18-19, Hind Pocket Book, Near Desu Office, G T Road, Shahdara, Delhi – 110095, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	29.01.1998
Com. Reg. No.:	091781
CIN No.: [Company Identification No.]	U29219DL1988PTC091781
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Water Guns, Filter Products, Air Release Valves etc.

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 411688
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations reported as fair. Business is active. Payments terms are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Vipul
Designation :	National Sales Manager
Contact No.:	91-9818679500
Date :	21.04.2011

LOCATIONS

Registered Office :	Plot No.: 18-19, Hind Pocket Book, Near Desu Office, G T Road, Shahdara, Delhi – 110095, Delhi, India
E-Mail :	Sharma.dsa@gmail.com
Website :	www.automatworld.com
Marketing Office :	182, F.I.E., Patparganj Delhi – 110092, Delhi, India
Tel. No.:	91-11-43036739
Fax No.:	91-11-43036738
E-Mail :	vipuljain@automatworld.com
Location :	Owned
Branches :	Block No.4, 5, Sector – 3A, IIE Haridwar, Uttarkhand, India

DIRECTORS

AS ON 29.09.2010

Name :	Mr Prabodh Kumar Jain
Designation :	Director
Address :	D-231, Vivek Vihar, Delhi
Date of Appointment :	29.01.1998
Name :	Mr Tushar Jain
Designation :	Director
Address :	D-231, Vivek Vihar, Delhi
Date of Appointment :	02.02.2006
Name :	Mrs. Ruchi Jain
Designation :	Director
Address :	D-231, Vivek Vihar, Delhi
Date of Appointment :	01.12.2007

KEY EXECUTIVES

Name :	Mr. Vipul
Designation :	National Sales Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2010

Names of Shareholders	No. of Shares
Prabodh Kumar Jain	1005100
Tushar Jain	295100
Anita Jain	110000
Kaveri Jain	60000
Madhu Bala Jain	20000
Nirmal Jain	3000
P.K. Jain (Karta)	82000
Ruchi Jain	39940
R.K. Jain 44000	44000
Master Addi Jain	5000
Master Ananya Jain	5000
Adinath Capital Services Limited	100000
Anna Jain	5
Deepali Jain	5
Kamlesh Jain	5
M. A.U. Khan	5
Sushma Jain	5
Rajeev Jain	5
Ratan Prakash Jain	5
Sandeep Jain	5
S.R. Jain	5
Y.N. Bhargava	5
B.L. Jain	5
Sushma Malhotra	5
Total	1769200

AS ON 29.09.2010

Category	Percentage
Bodies corporate	5.65
Directors or relatives of Directors	94.35
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Water Guns, Filter Products, Air Release Valves etc.
Exports :
Countries :	Middle East USA
Imports :
Countries :	Middle East European Countries
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

GENERAL INFORMATION

Customers :

• Wholesalers
• Retailer

No. of Employees :

800

Bankers :

Bank Of India, Parliament Street Branch, 4 , PTI Building Sansad Marg, New Delhi - 110001, Delhi, INDIA

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
(Secured against hypothecation of Book Debts Stock of Raw Material, Stock in progress and Finished goods, foreign bills guarantee by all the directors of the company and further secured by equitable mortgage of residential property of one of director of the company)
Bank of India CC	17.718	22.365
Bank of India (PCL)	11.733	4.999
Bank of India A/c (601670410000012)	0.746	0.00
Bank of India A/c Car Loan	0.5821	0.8445
Bank of India Car Loan (Scoda Superb)	0.919	0.000
ICICI Bank Limited Wargon R Lxi	0.000	0.031
HDFC Bank Limited Innova	0.479	0.718
Bank of India Loan	0.000	1.402
Bank of India Loan (60166051000053)	1.069	0.000
Bank of India Loan (601660510000054)	0.241	0.000
Bank of India Loan FBP (Secured by hypothecation of Car)	0.000	1.500
Total	33.4867	31.860
Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
From Others	2.682	0.794
From Body Corporates	0.260	19.853
Total	2.942	20.647

Banking Relations :	--
Auditors :
Name :	Prem Gupta and Associates Chartered Accountant
Address :	2, T C Jaina Tower, Ist Floor, Restaurant Opp. Moti Mahal, New Delhi – 110002, Delhi, India
Associates/Subsidiaries :	NA

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1769200	Equity Shares	Rs.10/- each	Rs.17.692 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2011
Sales Turnover (Approximately)	1100.000

Expected Sales (2011-2012) : Rs.1500.000 Millions

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		17.692	17.692	17.692
2] Share Application Money		9.800	9.300	2.050
3] Reserves & Surplus		75.430	60.907	39.505
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		102.922	87.899	59.247
LOAN FUNDS
1] Secured Loans		33.487	31.861	32.022
2] Unsecured Loans		29.429	27.794	27.095
TOTAL BORROWING		62.916	59.655	59.117
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		165.838	147.554	118.364
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		39.208	29.028	25.788
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		24.210	12.480	14.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	39.428	24.043	21.146
	Sundry Debtors	101.410	113.513	85.734
	Cash & Bank Balances	1.185	0.787	1.260
	Other Current Assets	15.373	12.121	15.505
	Loans & Advances	10.206	12.361	2.227
Total Current Assets		167.602	162.825	125.872
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	30.681	44.498	46.441
	Other Current Liabilities	27.429
	Provisions	7.076	12.292	0.868
Total Current Liabilities		65.186	56.790	47.309
Net Current Assets		102.416	106.035	78.563
MISCELLANEOUS EXPENSES		0.004	0.009	0.013
TOTAL		165.838	147.554	118.364

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		TOTAL (A)	582.753	522.265	387.934
Less	EXPENSES
		TOTAL (B)	554.088	481.664	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		28.665	40.601	NA
Less	FINANCIAL EXPENSES (D)		3.838	4.134	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		24.827	36.467	NA
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.227	2.339	NA
	PROFIT BEFORE TAX (E-F) (G)		21.600	34.128	22.631
Less	TAX (I)		11.028	12.919	NA
	PROFIT AFTER TAX (G-I) (J)		10.572	21.209	NA

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.81	4.06	NA
Return on Total Assets (PBT/Total Assets}	(%)	10.44	17.79	14.92
Return on Investment (ROI) (PBT/Networth)		0.21	0.39	0.38
Debt Equity Ratio (Total Liability/Networth)		1.24	1.32	1.79
Current Ratio (Current Asset/Current Liability)		2.57	2.86	2.66

LOCAL AGENCY FURTHER INFORMATION

NOTE:

The registered office address of the company has been shifted from 1/421 Lane No-5friends Colony Industrial Area, G T Road Shahdara, Delhi – 110095, Delhi, India to present w.e.f. 1.12.2007

FORM 8:

Corporate identity number of the company	U29219DL1998PTC091781
Name of the company	AUTOMAT INDUSTRIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 18-19, Hind Pocket Book, Near Desu Office, G T Road, Shahdara, Delhi - 110095, India
This form is for	Creation of charge
Type of charge	Movable Property
Particular of charge holder	Bank Of India
Nature of instrument creating charge	Hypothecation Cum Loan Agreement.
Date of instrument Creating the charge	31/07/2009
Amount secured by the charge	Rs.0.3000 Million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest to be charged @2.50% below the Bank's Prime Lending Rate rising or falling therewith with a minimum of 9.50% per annum with monthly rests. Terms of Repayment The term loan shall be repayable in EMI's of Rs.9554/- each starting from 31-08-2009 till the loan amount is fully repaid Margin As prescribed by the Bank. Extent and Operation of the charge First charge on the hypothecated Indica Vista Aqua TDI Car. Others The charge is created to secure the term loan provided by the Bank Of India to the Company for purchase of Indica Vista Aqua TDI Car.
Short particulars of the property charged	Hypothecation of Indica Vista Aqua TDI Car.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.30
UK Pound	1	Rs.72.92
Euro	1	Rs.64.69

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		49

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.